MA-CAMBRIDGE-BLOCKCHAIN

Cambridge Blockchain, LLC announced the closing of a $2 million
convertible note today, with participation from leading technology
investors Partech Ventures and Digital Currency Group. The funds will be
used to accelerate deployments of Cambridge Blockchain’s digital
identity enterprise software for financial institutions. “We’re thrilled
to have the support of Partech and DCG,” said Matthew Commons, Cambridge
Blockchain’s CEO. “DCG is one of the world’s most experienced blockchain
investors, and Partech’s strategic relationships with European financial
institutions will help us expand in important new markets for our
technology.”

Financial institutions face growing compliance challenges related to
identity, with know-your-customer costs that can reach hundreds of
millions of dollars per year for large banks. Strict data privacy rules
such as the European General Data Protection Regulation also limit the
ability to access validated customer identity attributes from other
trusted parties. Cambridge Blockchain’s distributed architecture
resolves the competing challenges of transparency and privacy, resulting
in faster customer onboarding, lower costs, and enhanced compliance
through a single, trusted and consistent view of customer reference data.

“We believe Cambridge Blockchain is the most promising company to seize
this huge market opportunity and a clearly beneficial application of
Blockchain technologies. We’ve been impressed by the team of co-founders
who has both prior startup experience and a strong vertical expertise,
and has inked their first commercial partnerships” explained Romain
Lavault, General Partner at Partech Ventures.

Barry Silbert, Founder and CEO of DCG remarked, “In today's world,
managing identities across applications and platforms is becoming
increasingly challenging and cumbersome, and high profile data hacks
have highlighted the vulnerability of these systems. We are excited to
see Cambridge Blockchain working to build blockchain-based technology to
collect and share identity data across organizations in a safe, secure,
and transparent manner that protects users while offering efficiency to
institutions.”

Cambridge Blockchain has won FinTech competitions including BBVA Open
Talent 2016 and the Santander InnoVentures Distributed Ledger Challenge.
Cambridge Blockchain graduated from the 2016 FinTech Innovation Lab –
run by the Partnership Fund for New York City and Accenture – where
executives from top financial services firms and leading entrepreneurs
mentor growth-stage companies.

The company is currently developing its digital identity software with
several leading global financial institutions, with commercial
deployments planned for late 2017.